§ 1504 - Municipal laws - Vermont Statutes

§ 13-1504. Business inventory and business personal property

(a) The city shall exempt business inventory as defined in 32 V.S.A. § 3848 from the property tax.

(b) Business personal property as defined in 32 V.S.A. § 3618(c) shall be appraised in accordance with the provisions of 32 V.S.A. § 3618, as such provision is from time to time amended.

(c) Subsection (b) notwithstanding, all business personal property first located in the city after April 1, 1996, shall be exempt from property tax.

(d) Subsection (b) notwithstanding, the listed value of business personal property included in the city grand list for FY 1996, shall be reduced by 20% for FY 1997, and each year thereafter, or the maximum amount authorized under the provision of 32 V.S.A. § 3618(a), whichever is greater, and deleted from the grand list when reduced to zero listed value.